Blockchain will open new opportunities for the sustainable energy development – SEF 2021 DIGITAL

There are different ways to integrate blockchain into the renewable energy market. It can be done to improve the system’s efficiency, with the help of renewable energy technologies such as wind, solar, hydro, geothermal, biomass and biogas. The main application of blockchain is in the renewable energy sector, where blockchain-based systems will create possibilities of transparency, cost reduction, decentralized energy production and reduced electricity production costs.

Blockchain technologies combined with the Internet of Things (IoT) devices enable consumers to trade and purchase energy directly from the grid rather than from retailers. It was said by Vitaliy Daviy, CEO of IB Centre was opened the 14th Sustainable Energy Digital Forum and Trade Show of Central and Eastern Europe SEF 2021 DIGITAL. Blockchain will directly bring the development of sustainable energy to a new digital level in 2022.

“With blockchain RE companies can and record transactions and information with a presented availability. They can also achieve optimal transparency and share information controlling exactly what information gets shared and who it gets shared with”, said Vitaliy Daviy in his presentation “Blockchain for the energy industry” on the first day of the SEF 2021 DIGITAL Sustainable Energy Forum.

Sustainable energy development in the world is the most imperative issue because of global climate change, the diminishing of fossil fuels, and the world increasing population. According to the global low-carbon economy using wind energy, the industry shows the amazing indicators – 1 300 TWh electricity was generated; 7% is a share in global electricity demand and 744 MW of total cumulative capacity around the world was installed as of 2020. It is told at the SEF 2021 DIGITAL Forum by Stefan Gsänger, Secretary-General of the World Wind Energy Association.

«The main challenges are the huge transformation which mainly has huge economic opportunities, instead of importing gas, oil, coal from other countries. You can use all domestic resources, create to supply change for that, new jobs and it’s also new companies and ordinary people can benefit for that. The greatest challenge is mobilizing our societies, citizens, and communities for the big transformation», commented the main industry challenges Stefan Gsänger in his presentation at the Forum.

Continuing the discussion of the development of wind energy in particular in Ukraine, Katherina Knysh, Head of the analytical department of the Ukrainian Wind Energy Association, shared insights about the new wind power agenda for Ukraine. She told, that the total installed wind capacity, mainland Ukraine reached 1 672,9 MW. According to the forecast of the Ukrainian Wind Energy Association, in 2025 Ukraine will have 4 150 MW installed capacities of wind power.

“The National renewable energy action plan by 2030 should provide development of hybrid power plants. It’s kind of a new direction of our sector but very important. Because hybrid power plants could allow predicting the generation, to reduce the capital and to increase the capacity factor of our infrastructure and power system”, said Kateryna in her presentation.

Investments in sustainable energy tend to look at big-picture concepts and, unfortunately, this leaves the average investor feeling baffled. With an increase in the adoption of innovative and renewable energy sources, the future of energy looks good. As reported by Serhiy Maslichenko, Climate Financing Entrepreneur, Former Deputy Director of the EBRD, Former Deputy Minister of Energy and Environment in Ukraine, in his presentation, respondents of the “2020 Global Sustainable Investing Survey” are planning to double their sustainable assets under management in the next 5 years.

«Sustainable debt volumes are growing fast (30% in 2020). Sustainability bonds doubled and contributed largely to the growth. Green bonds are the largest part of sustainable debt representing almost half of it and increased by 13%. Both sustainability-linked loans and green loans saw a 15% reduction in issuance, mostly impacted by economic recession», shared insights at the Forum Serhiy Maslichenko.

He also talked about decarbonization trends and singled out 3 most actual among of them: Electrification is critical to long-term carbon goals and will be a relevant distributed resource; Decentralization makes customers active elements of the system, though requires significant coordination; Digitalization allows for open, real-time, automated communication and operation of the system.

Ewelina Wętrys, Counsel of the Polish market expert DWF, is sure that bilateral investment treaties are an opportunity to reduce the risks of an investment in a renewable energy sector. According to Ewelina, many companies less frequently ensure the to secure their business against adverse actions taken by a state where the business is made. She shared information that a network of bilateral and multilateral investment treaties exists which offer protection for cross-border business and may reduce political risk in states or sectors which are vulnerable to government interference”, told law expert. 

“Protections offered by BITs/MITs differ and depend on the provisions of every single treaty. Typically, through BIT/MIT a host state guarantees fair and equitable treatment of the investor and its investments, full protection and security of the investment within the territory of the host state, not to directly or indirectly expropriate an investment without paying prompt, adequate and effective compensation, not to discriminate an investor”, Ewelina Wętrys explained.

Hydropower is one of the largest renewable energy sources in Eastern Europe, with a potential of more than 713.7 GW of installed capacity. Hydropower projects in this region typically provide low-cost, carbon-free electricity which is also used for industrial and agricultural purposes. Janusz Steller, Dsc, President of the Polish Hydropower Association told at SEF 2021 DIGITAL Forum in detail about hydropower role in the energy transition. According to his presentation, a high specific technical potential on hydropower has Georgia (more than 1 GW/h), then almost 600 MW/h reach Montenegro and Albania. On the lowest step is Estonia, Belarus, Moldova, Lithuania, Ukraine, Poland, Czech Republic, Latvia and Hungary. These countries have a technical capacity of fewer than 100 MW/h.

“In distinction to other energy conversion technology, hydropower offers now merely the emission-free generation of electricity out of a renewable primary energy source, but also store the energy surplus in the power grid and its recovery according to the needs, electrical power system start and stabilising. Its parameters as affected by the treated by intermittent electricity sources Hydropower schemes are generally multipurpose ones”, commented Janusz Steller.

Outstanding experts that presented the SEF 2021 DIGITAL line of speakers were provoked the two days discussion about the global energy and fuel market transformation, markets of solar, wind, bio and hydrogen energy, energy storage, distributed energy generation, and new business models for the niche market development.

SEF 2021 DIGITAL, 14th Sustainable Energy Forum and Trade Show was held on 2-days on October 27-28 in digital format. The unique online event was dedicated to all the segments of renewable energy and all European emerging markets. In particular, the focus was being pointed to the Balkan market, Poland, Ukraine, Moldova, and the Baltic countries.

Learn insights of the SEF 2021 DIGITAL you can in events materials, which is available at the link: forum.sefkyiv.com

The general partner of the SEF 2021 DIGITAL is LLC Solar Steelconstruction. It is a market-leading designer, manufacturer and supplier of solar PV mounting systems and carports. Solar Steelconstruction company was founded in 2012 and now is the biggest in Ukraine in the manufacturing and installation of mounting systems in the solar power station.

The activity of the company is focused on high-tech manufacturing of mounting systems, construction, and exploitation of solar power plant (SPP), as well as implementing the entire range of installation works.

Learn more about services and latest solutions of Solar Steelconstruction at the website: www.solarssk.com

Аlso you can connect by phone +38 097 641 80 20 or email: office@solarsk.com.ua

The next IB Centre’s event is CISOLAR 2022, the 11th Solar Energy Conference and Trade Show of Central and Eastern Europe, which will be held on May 24-26 in a hybrid format: in-person and digital.

Registration is already opened: 2022.cis-solar.com

SEF 2021 DIGITAL Organizer is IB Centre – Innovative Business Centre that undertakes projects in the field of energy and eco-innovations and is a leading provider of conferences, trade shows, and training programs in the field of new energy and clean technologies with over 15 years’ history and implemented projects from Brussels to Almaty, which have accelerated the formation of cleantech industry and, in particular, renewable energy and energy technologies in emerging markets.